This paper presents application possibilities of blockchain technology in business. The possibilities were examined by means of the adopted metrics on the basis of relevant literature. The paper is organized according to the research questions and thus each subtitle responds to a question. The most important aspects of blockchain technology are decentralization and the cryptographic linking of functions as well as Smart Contracts which guarantee security and automatization of the transaction execution without the central authority. Application of blockchain provides the society with the improvement of records management, reduces frauds and limits the risks. A particular emphasis is put on the financial sector which is profoundly changed by the use of blockchain. The main benefits of blockchain in business are transparency, privacy, security and reliability of the executed transactions. According to the level of privacy we distinguish between the public, private and permission based blockchain platforms. Blockchain is an alternative solution to the problem of centralized systems with almost unlimited possibilities and application. The potential drawbacks are in relation to the technological and business risks which can be solved by researching blockchain technology and education of employees before the implementation in the business.